I guess the samurai clad savior of the kimono sporting Japanese lady must have been a Caucasian unlike the picture depicts as Asian ! Because, Unison is in fact led by Westerners right? as the article says. More interesting would be to know whose money it runs on? Japans or non-Japans that would be a true indicator of what is Unison ? West or East :)

Also, Aderan's episode, if viewed in the big picture of corporate governance/monitoring in a bank-based vs market-based systems, would it mean that in many Japanese companies (around 90%?) have a main bank which also acts as a monitor is not up to its job? If Japans bubble in 80s and current escapades are a obvious evidence to this fact does hostile takeover system work always? repeated LBO's in US that occur in waves more in times of easy credit show more a trend of making a quick buck rather than real interest in keeping the acquired business as a going concern and the current wave's PE disguised hostile takeovers again stand for the same fact.

Cerebrus's failure could be an exception or just a publicly known fact when many other PE firms are bleeding privately not being able to make money. If so, how do we say which monitoring system is correct? bank monitoring or hostile takeover monitoring?

When this is not addressed/accounted how can one be stated progressive over the other !!